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Hong Kong Cyberport signs MoU with InnoSpace (Thailand) to Strengthen Cooperation in Support of Start-ups

Hong Kong, Feb. 28, 2019 (GLOBE NEWSWIRE) — Hong Kong – 28 February 2019 – The Hong Kong Cyberport (Cyberport) and the InnoSpace (Thailand) have concluded a memorandum of understanding (MOU) to strengthen bilateral cooperation in supporting the growth of start-ups and their expansion into overseas markets. The signing ceremony was witnessed by Hong Kong Chief Executive Carrie Lam and Thai Deputy Prime Minister Somkid Jatusripitak together with other guests of honour. It was a highlight of the “Thailand – Hong Kong Strategic Partnership” event held in Bangkok.

The MoU was signed by Cyberport Chief Executive Officer Peter Yan and Chairman of the advisory committee of InnoSpace (Thailand) Tevin Vongvanich. Under the MOU, the two parties will develop a collaborative framework of innovation and start-up development in the scope of knowledge partner between the start-up ecosystem of Thailand and Hong Kong, to encourage a regional community of entrepreneurs through people and resources exchange and the provision of services to the entrepreneurship community, in preparation for their growth into successful businesses and expansion into different markets in other parts of the world.

Mutual recognition of the importance of start-ups

“Hong Kong and Thailand mutually recognise the importance of start-ups as a new engine of economic growth and development. Both Hong Kong and Thailand have been developing support programs and mechanisms to promote and facilitate innovation and start-ups. The MoU marks a major milestone in the bilateral cooperation in start-ups support and provides an extended network to assist start-ups of both regions in expanding their business along the Belt and Road and beyond,” Dr. George Lam, Chairman of Cyberport said.

“Cyberport has an Innovation and Technology community of over 1,200 companies. We will facilitate InnoSpace start-ups to develop further by integrating them into our community. As a member of Cyberport community, InnoSpace startups can enjoy services of and access to our Cyberport Investor Network, Enterprise Network and Technology Network. They may also collaborate with local and international business partners to develop new opportunities. Cyberport can springboard them to enter Hong Kong, Mainland China and the Greater Bay Area markets,” Peter Yan, CEO of Cyberport said.

Yan added, “We will work with InnoSpace (Thailand) to facilitate Hong Kong start-ups and tech companies to expand their business to Thailand and other ASEAN markets.”

In the panel discussion session after the signing of the MOU, Peter Yan shared his insights on creating an entrepreneur-conducive environment and cultivating talents in innovation as the key investment in a technology-driven economy. In addition, six start-ups from the Cyberport community eyeing the Thai market showcased their innovative solutions and business model in the event.

Cyberport is a wholly owned company of the Hong Kong government and an innovative digital technology community housing over 1,200 start-ups and tech companies. It has established the largest FinTech community in Hong Kong and aims to become a digital tech hub. It fosters five digital technology clusters crucial to creating key economic drivers, including FinTech, AI/big data, esports/digital entertainment, smart living, and blockchain solutions.

InnoSpace (Thailand) is a public-private joint venture to serve as a national platform supporting new start-ups. The company is expected to be the center of Thai start-up development with the objective of increasing their competitiveness and helping them expand into foreign markets. It provides state-of-the-art technologies and equipment for start-ups as well as expert advice.

About CyberportCyberport is an innovative digital community with over 1,200 technology companies. It is managed by Hong Kong Cyberport Management Company Limited, which is wholly owned by the Hong Kong SAR Government. With the vision to become a main force in developing the digital tech industry as a key economic driver of Hong Kong, Cyberport is committed to nurturing youth, start-ups and entrepreneurs to grow in the digital industry by connecting them to strategic partners and investors, driving collaboration with local and international business partners to create new opportunities, and accelerating digital adoption amongst corporates and SMEs.

Cyberport focuses on building five key clusters of digital tech, namely E-sports/digital entertainment, FinTech, AI/big data, smart city/smart living, and blockchain solutions, to foster the development of Hong Kong into a “Smart City”. With a committed team of professionals providing all rounded value added services to support our digital community and an array of state-of-the-art tech facilities, Cyberport is the flagship for Hong Kong’s digital tech industry.